shares hit a 20 per cent upper circuit on Monday, trading at ₹66.28, while Cupid Limited recovered from early losses to trade at ₹373.40, down 11 per cent after both stocks had crashed to a 20 per cent lower circuit on Friday.
TFCI’s turnaround came after the company announced on January 4 that it will act as co-sponsor and anchor investor in Holystone Hospitality Fund, committing up to 5 per cent of the fund corpus. The company will also invest up to 10 per cent in Certus Real Estate Fund, with applications for both Category II Alternative Investment Funds filed with SEBI.
The stock opened at ₹51, significantly below Friday’s close of ₹55.24, before surging to hit the upper circuit. Trading volume was robust at 102.29 lakh shares, with total traded value reaching ₹617.92 crore.
A notable connection between the two companies is Aditya Halwasiya, who is a promoter in Cupid and holds an 18 per cent stake in Tourism Finance as of September 30. Data shows Ekta Halwasiya purchased 3.7 lakh TFCI shares on Friday following block deals.
Cupid shares, which hit a 52-week high of ₹526.95 on January 2, have seen sharp volatility. The stock opened at ₹341 on Monday and recovered to trade around ₹373.40 after falling as low as ₹337.10 earlier in the session.
Cupid had earlier released a Q3 FY26 business update highlighting its highest-ever order book and confidence in exceeding FY26 guidance of ₹335 crore revenue and ₹100 crore profit after tax.